GFY Foods, Inc. Moving Forward in Acquisition of Accounting Firm


BUFFALO GROVE, Ill., April 29, 2005 (PRIMEZONE) -- As anticipated previously, GFY Foods, Inc. (OTCBB:GFYD) is moving forward in its planned acquisition of Terry Moye & Associates, a CPA and consulting firm. The firm now provides Accounting, Business and Individual Tax Services as well as Business Computer Systems Services including software training.

Mr. Moye's firm is ready to align itself fully with GFY Foods as a wholly owned subsidiary of the Company. While Mr. Moye now provides some accounting and consulting services for the Company, it is the plan that Terry Moye & Associates will become a fully capable Financial Services branch of GFY Foods, Inc. Mr. Moye, a licensed CPA, is taking steps to renew his license to provide insurance and mutual fund brokerage services. He will be able to provide Mutual Fund investments, retirement planning, business and individual tax services, and Business Continuity Planning. Mr. Moye further hopes that he may be able to bring in associates that will broker medical and life insurance policy accounts. In the immediate future, it is planned that Mr. Moye will acquire a new base of private clientele that should provide a revenue source for GFY Foods.

In other consulting services, Terry Moye is experienced in what financial requirements a restaurant or retail business needs to achieve and maintain profitability. His due-diligence work prior to any acquisition may be used to give the Company a prediction of how successful it may be in a particular business deal. The Company would also like to use him as a key player in determining what sites would be a good and profitable fit should GFY Foods move forward as a franchiser.

About GFY Foods, Inc.

Founded in the spring of 2003 by Ed Schwalb -- GFY Foods is currently operating a franchised cafe, but is focusing on non-employee driven assets such as the life settlement policies and the purchase, rehabbing and flipping of commercial and residential properties, as well as other revenue sources.

This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.


            

Contact Data